Greenlane reports record q3 2021 revenue of $41.3 million

Company closes transformational merger with kushco, creating the industry's leading ancillary cannabis company and house of brands revenue up 16% year-over-year; greenlane brands revenue up 26% year-over-year company targets $70 million and $100 million of greenlane brands revenue for 2022 and 2023, respectively, with gross margins of 45%+ boca raton, fl / accesswire / november 15, 2021 / greenlane holdings, inc. ("greenlane" or "the company") (nasdaq:gnln), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today reported financial results for the third quarter ended september 30, 2021 ("q3 2021"). recent highlights total revenue increased 16% to $41.3 million for q3 2021, compared to $35.8 million for q3 2020 achieved second-highest sales level in company history for greenlane brands, which grew to $8.4 million in q3 2021, up 26% compared to $6.7 million in sales for q3 2020; greenlane brands accounted for 20.4% of q3 2021 total revenue compared with 18.7% of total revenue for q3 2020 completed transformative merger with kushco holdings inc. ("kushco"), creating an undisputed leader in the ancillary cannabis industry entered into agreement to acquire industry leading vaporizer brand davinci, expanding greenlane brands portfolio and intellectual property pipeline management commentary nick kovacevich, ceo of greenlane holdings, said: "q3 was a transformational quarter for greenlane, with the completion of our merger with kushco creating the industry's leading ancillary cannabis company and house of brands.
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